Get Smart University is contemplating an increase in tuition to enhance revenue. If GSU feels that raising tuition would enhance revenue, it is
a. ignoring the law of demand.
b. assuming that the demand for university education is elastic.
c. assuming that the demand for university education is inelastic.
d. assuming that the supply of university education is elastic.
c
Economics
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Tests of the Heckscher-Ohlin model by Bowen, Leamer, and Sveikauskas and by Maskus continue to
A) provide strong support for the theory. B) provide weak support for the theory. C) provide evidence against the theory.
Economics
Henry deposits $2,000 in currency in the First Street Bank. Later that same day Jane Harris negotiates a loan for $5,400 at the same bank. After these transactions, the supply of money has:
A. Increased by $2,100 B. Increased by $3,300 C. Increased by $5,400 D. Decreased by $3,300
Economics